Naviter Wealth LLC Sells 339 Shares of Salesforce, Inc. (NYSE:CRM)

Naviter Wealth LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,189 shares of the CRM provider’s stock after selling 339 shares during the quarter. Naviter Wealth LLC’s holdings in Salesforce were worth $3,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arlington Trust Co LLC grew its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce during the 4th quarter valued at approximately $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the 4th quarter valued at approximately $31,000. Collier Financial bought a new stake in shares of Salesforce during the 4th quarter valued at approximately $32,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the 3rd quarter valued at approximately $27,000. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on CRM. Needham & Company LLC reiterated a “buy” rating and set a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Royal Bank of Canada lifted their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Guggenheim reiterated a “sell” rating and set a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Stifel Nicolaus cut their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group lifted their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Stock Performance

CRM opened at $282.74 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company’s fifty day moving average price is $323.68 and its two-hundred day moving average price is $308.18. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a market cap of $270.58 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 2.58 and a beta of 1.35.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the company posted $1.62 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Parker Harris sold 942 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares in the company, valued at $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,108,793 shares of company stock worth $383,156,227. Insiders own 3.20% of the company’s stock.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.